The hotel management agreement is a common, but arguably at times misunderstood, hotel operating structure. This study has sought to explore how both owners and hotel management companies (“operators”) perceive aspects of ownership in managed hotels. In-depth interviews were held with both operator and owner executives and it was found that, even though interviewees appeared to be aware of the nature of the relationship established by a hotel management agreement, in practice operators in particular use a working definition of the model that is more akin to a lease. Misunderstandings of the hotel management agreement can cause confusion as to where risks and responsibilities lie. Based on these findings, we argue that ownership of the operating business, in addition to that of the hotel’s real estate, deserves to be more explicitly acknowledged and addressed.
Deze publicatie geeft een overzicht van die maatschappelijke trends die naar verwachting de komende tien tot vijftien jaar van invloed zijn. De publicatie is bedoeld om de partijen op de vastgoedmarkt en bestuurders te prikkelen tot nadenken over de nieuwe opgaven, uitdagingen en kansen en over hun rol en invloed daarin. Wie vastgoed ontwikkelt, moet naar de toekomst kijken.
Our current take-make-dispose economic model faces a vital challenge as it extracts resources from the natural environment at faster rates than that the natural environment can replenish. A circular economy where businesses lower their negative impact on the natural environment by transitioning towards recycling business models (RBMs), one of the four principles of circularity, is suggested as a promising solution. For a RBM to become viable, collaboration among several stakeholders and across several industries is required. In addition, the RBM should be scalable to make a positive impact. Hence, developing RBMs is complex as organizations need to consider multiple principles imposed by the recycling, collaborative, and scalability dimensions of these business models (BMs). In addition, these principles often remain general and not actionable to the practitioners. Therefore, in this study, we researched the practical guidelines for viable RBMs that are also collaborative and scalable. The empirical setting is the reuse of textile fibers to develop biocomposite products. We studied three cases using a research-through-design approach. We contribute to the literature on RBMs by showing the six minimum practical guidelines for recyclability, collaboration, and scalability. We draw implications for within sector collaborations and advance the thought that lease constructs challenge the scalability of RBM.
MULTIFILE
